24-B STEELE AVE
About This Property
When you walk up the staircase you will find the primary bedroom to the left with its own walk in closet and very cleverly designed vanity which allows you utilize the natural light when getting yourself ready for your day. On the other side is your private bathroom which offers two people a generous amount of space.
Two additional bedrooms lay to the right and enjoy a shared bathroom.
On the lower level, you have an abundance of storage, with the potential to be converted to a fully finished space. The current homeowners also recently replaced the roof, the HVAC, the hot water heater, gutters, wood floors, and added new deck thats great for summer parties and barbecues.
People always say when you are buying a home, "Location, Location, Location" and I'll say it again, this location is hard to secure and you could look for years before finding something like this in Murray Hill at this price point with this level of potential. The next homeowner of 24B Steele Ave. will thank themselves later, when they realize the quality of life in Murray Hill was so much better than they had ever imagined.
NOTE: Zillow and Trulia are changing the address to 24 Steele, the correct address is "24-B Steele Ave." which is right next door to 24 Steele.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
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About Annapolis
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017